The $BNB USDT daily chart indicates a potential bullish breakout scenario, as the price consolidates within a symmetrical triangle.
The price is approaching the top of the triangle, indicating a potential breakout soon.
The current support zone lies around $600, which is aligned with the lower trendline of the triangle.
The immediate resistance lies at $645, which is near the upper boundary of the triangle.
A breakout above $645 could target the higher levels of $700-$750.
BNB is trading above the cloud, which indicates bullish momentum.
The cloud acts as a dynamic support around $580-$600.
Strong support exists at $600, reinforced by the horizontal zone and the lower triangle boundary.
A breakdown below $580 could invalidate the bullish setup, with potential support lying at $540.
An upward breakout could see BNB target $780 and beyond.
A downward move could revisit the $540-$550 range.
Watch out for a confirmed breakout above $645 for a long position.
Watch out for a breakout below $580, which could turn the momentum bearish.
Disclaimer: This analysis is for informational purposes and is not financial advice. Always stay updated with market movements and adjust your trading strategies as needed.
